
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 14USC684]

 
                          TITLE 14--COAST GUARD
 
                       PART I--REGULAR COAST GUARD
 
               CHAPTER 18--COAST GUARD HOUSING AUTHORITIES
 
Sec. 684. Limited partnerships with nongovernmental entities

    (a) Limited Partnerships Authorized.--The Secretary may enter into 
limited partnerships with nongovernmental entities carrying out projects 
for the acquisition or construction of housing units suitable for use as 
military family housing or as military unaccompanied housing.
    (b) Limitation on Value of Investment in Limited Partnership.--(1) 
The cash amount of an investment under this section in a nongovernmental 
entity may not exceed an amount equal to 33\1/3\ percent of the capital 
cost (as determined by the Secretary) of the project or projects that 
the entity proposes to carry out under this section with the investment.
    (2) If the Secretary conveys land or facilities to a nongovernmental 
entity as all or part of an investment in the entity under this section, 
the total value of the investment by the Secretary under this section 
may not exceed an amount equal to 45 percent of the capital cost (as 
determined by the Secretary) of the project or projects that the entity 
proposes to carry out under this section with the investment.
    (3) In this subsection, the term ``capital cost'', with respect to a 
project for the acquisition or construction of housing, means the total 
amount of the costs included in the basis of the housing for Federal 
income tax purposes.
    (c) Collateral Incentive Agreements.--The Secretary shall enter into 
collateral incentive agreements with nongovernmental entities in which 
the Secretary makes an investment under this section to ensure that a 
suitable preference will be afforded members of the armed forces and 
their dependents in the lease or purchase, as the case may be, of a 
reasonable number of the housing units covered by the investment.

(Added Pub. L. 104-324, title II, Sec. 208(a), Oct. 19, 1996, 110 Stat. 
3911.)

                  Section Referred to in Other Sections

    This section is referred to in section 687 of this title.
